Are you sure?

Nád MPS-H files criminal case against MVM

Alternative energy company Nád MPS-H Kft has filed a criminal report with the National Investigation Bureau (NNyH) against state-controlled wholesale utility MVM charging the company with fraud.

Nád MPS-H is accusing MVM of unlawfully obtaining and using its energy grass program. Earlier this year, Nád MPS-H filed a civil lawsuit against MVM seeking HUF 9.6 billion in damages related to an unfinished investment. That case is still being head in court.

Nád MPS-H claims MVM paid it only about one third of the HUF 2.5 billion in funding stipulated in a 2006 cooperation agreement for construction of a 5,500-sqm energy grass propagation facility in Batonyterenye.

MVM also pledged guarantees for an additional HUF 9 billion, according to the company. MVM rejected the claim and said Nád MPS-H had unilaterally launched the project after negotiations between the two parties.